Larry Fink, CEO and Chairman of the world’s largest asset manager BlackRock, touched on three blockchain related topics in this year’s annual letter. The first part of his letter was about how private markets have been out of reach for most investors and BlackRock is in the process of changing that. For the same reason, the digital assets sector often sees private assets as low hanging fruit for tokenization, as illustrated in this State Street survey.
Later he moved on to tokenization, highlighting how fractionalization can democratize access. Finally he referenced Bitcoin. On the one hand, BlackRock manages the largest Bitcoin ETF. However, his concern is more about getting control over the United States’ government debt.
“Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America’s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar,” he wrote.
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